Heat deaths to soar from ‘cascading’ climate risks, landmark federal report warns

The report says that the climate of Australia will change so quickly, and that air records will no longer be used to make climate forecasts.

Although the assessment does not produce a single total number for the economic cost of climate change, it will have widespread financial effects throughout the country.

The losses in property values ​​are estimated to be 611 billion dollars by 2050, especially those who are affected by rising sea levels or are more prone to floods become less valuable.

It will make some professions more difficult, such as high heat, construction and agriculture.

Due to the frequency of high heat waves, 700.00 per year and 2.7 million additional working days will be lost until 2061. Labor productivity may drop by 0.2 percent to 0.8 percent at a cost of $ 135 billion to $ 423 billion by 2063.

The assessment shows that an increase of 3 degrees at average temperatures will result in 444 percent of heat -related deaths in Sydney, 423 percent in Darwin and 250 percent in Melbourne.

The financial system itself can be at risk.

In the report, “Financial system shocks or volatility can be triggered by asset writing or credit defaults throughout a region, and access to finance for households and businesses, the effects of potential fluctuation by reducing the value of investments or retirement,”

The country’s farm sectors are expected to suffer as climate changes from animal husbandry to cropping and aquaculture growing.

Higher temperatures will be a special risk for the cattle herd of the country, which is currently the most valuable agricultural exports. If the climate heats up to 3 degrees, European cattle, such as Angus and Hereford breeds, will live at least 150 days a year in more than 61 percent of the country’s heat stress threshold.

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These cattle dominate the southern cattle markets of the country.

Even the reproduction suitable for tropical areas encounters about 90 days of the threshold where animals have heat stress, which can reduce production and even kill cattle.

Focusing on Victoria, the large milk industry of the country is at risk with a large number of hot days that will affect the milk output.

In sheep, heat stress can reduce lamb rates by 3.5 percent to 32.2 degrees for each extra day. However, this can be balanced by decreasing lamb mortality rates.